Sysco (SYY) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of Sysco (NYSE:SYY) in a report released on Tuesday. The brokerage issued an outperform rating and a $68.00 price target on the stock.

Other analysts have also issued research reports about the company. Loop Capital cut their target price on Sysco from $72.00 to $70.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Zacks Investment Research upgraded Sysco from a hold rating to a strong-buy rating and set a $71.00 target price for the company in a research report on Wednesday, January 10th. Jefferies Group set a $67.00 target price on Sysco and gave the stock a hold rating in a research report on Monday, February 5th. Bank of America raised their target price on Sysco from $68.00 to $70.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Finally, Pivotal Research cut their target price on Sysco from $68.00 to $61.00 and set a buy rating for the company in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $65.25.

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Shares of NYSE:SYY opened at $62.50 on Tuesday. Sysco has a 1-year low of $48.85 and a 1-year high of $64.27. The company has a market cap of $31,534.33, a PE ratio of 25.20, a PEG ratio of 2.04 and a beta of 0.55. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Sysco had a return on equity of 61.02% and a net margin of 2.10%. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same quarter last year, the firm earned $0.58 EPS. Sysco’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts expect that Sysco will post 2.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be given a $0.36 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.44 annualized dividend and a yield of 2.30%. Sysco’s payout ratio is 58.06%.

In other Sysco news, Director Richard G. Tilghman sold 5,000 shares of Sysco stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total value of $299,000.00. Following the completion of the transaction, the director now owns 90,552 shares in the company, valued at approximately $5,415,009.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of Sysco stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the transaction, the executive vice president now owns 55,235 shares of the company’s stock, valued at approximately $3,257,760.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,409 shares of company stock valued at $2,619,148. Corporate insiders own 9.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SYY. Dimensional Fund Advisors LP raised its position in Sysco by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,291,486 shares of the company’s stock valued at $69,676,000 after purchasing an additional 6,462 shares during the last quarter. Vident Investment Advisory LLC bought a new position in Sysco in the 3rd quarter valued at $393,000. Neuberger Berman Group LLC raised its position in Sysco by 2.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 41,894 shares of the company’s stock valued at $2,260,000 after purchasing an additional 1,009 shares during the last quarter. Atlantic Trust Group LLC raised its position in Sysco by 23.0% in the 3rd quarter. Atlantic Trust Group LLC now owns 56,304 shares of the company’s stock valued at $3,036,000 after purchasing an additional 10,527 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in Sysco in the 4th quarter valued at $765,000. Hedge funds and other institutional investors own 79.02% of the company’s stock.

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About Sysco

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

Analyst Recommendations for Sysco (NYSE:SYY)

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